How to Buy ICO Tokens for Beginners in 2024

Initial coin offerings (ICO) provide access to brand-new crypto projects, usually at a discounted price for early investors.

In this beginner’s guide, we explain how to buy ICO tokens. Read on to discover where to buy ICO tokens and which crypto startups are worth watching. 

How to Buy ICO Tokens — Step-by-Step Tutorial

Now let’s dive into a more comprehensive tutorial on how to buy ICO tokens. In this guide, we used the Green Bitcoin ICO (now closed) as an example. 

Step 1: Download and Install MetaMask Wallet

To begin with, ICO investors will need a crypto wallet. This is a core requirement when learning how to buy ICO crypto tokens, not only in terms of storage but transferring tokens to the ICO website to purchase them.

There are hundreds of crypto wallets, but MetaMask is a great option for newbies. MetaMask comes as a browser extension for Chrome, Edge, and Firefox. Prefer investing on a smartphone device? MetaMask also comes as an app for Android and iOS. 

Download MetaMask and set up a new wallet. Choose a password and take note of the 12-word backup passphrase, writing both down on paper and securing it somewhere safe.

Step 2: Buy a Crypto Token Supported by the ICO

ICOs enable investors to buy their new cryptocurrency with an established token. In the case of Green Bitcoin, the ICO accepts Ethereum, BNB and Tether. Those that are completely new to crypto will need to purchase one of these tokens to invest in the GBTC ICO.

Step 3: Transfer Tokens to MetaMask

Now that Ethereum or Tether has been purchased, the tokens need to be transferred to Metamask. 

So, open the Metamask wallet and click on ‘Assets’. Towards the top of the interface, the wallet address is displayed beneath ‘Account 1’. Copy the wallet address. 

The tokens can then be transferred to the wallet, with the transaction usually taking 1-2 minutes to process. 

Step 4: Connect Wallet and Confirm ICO Order

The next step is to visit the Green Bitcoin website and click the ‘Connect Wallet’ button and then MetaMask and sign onto the presale site by entering your password and confirming the connection.

The order box for the ICO is on the right-hand side of the homepage. Choose your preferred payment currency, then type in a figure to invest or the number of $GBTC tokens to purchase – the adjacent box will automatically update.

Green Bitcoin allows investors to directly buy and stake tokens through the presale. Read ‘Step 5’ to learn how to directly stake $GBTC while buying tokens through the ICO.

If you do NOT wish to stake tokens then after inputting the purchase amount select ‘Buy Now’ and continue with the transaction.

As noted above, a small amount of ETH will be needed to cover the Ethereum network (gas) fee.

Step 5: Stake $GBTC

If you wish to stake GBTC tokens during the presale then select the option that says ‘Buy and Stake for XXX% Rewards’.

On that page you can select how many tokens to stake and for how long, with staking open throughout the ICO and beyond.

Step 6: Claim Tokens

The final step of an ICO is to claim tokens when the presale is complete and transfer them into your wallet.

Generally, near the end of an ICO the project will announce to investors a claiming date and time, with tokens to be held securely on the website until the token generation event (TGE).

To claim, investors return to the website at the correct time, select claim at which point that can be transferred across the Ethereum network – for example to an exchange to sell.

What Are ICO Tokens?

Before cryptocurrencies are listed on exchanges, they usually go through an initial coin offering (ICO). In simple terms, this enables investors to buy the startup’s new cryptocurrency token before it is sold to the public. 

Crypto ICOs are a win-win situation for both investors and blockchain startups. 

• For crypto startups, this enables the project to raise capital from investors to help fund their operations.
• For crypto investors, this enables them to buy the ICO tokens at a discounted price – as an incentive to invest early. 

Upcoming ICOs are very similar to initial public offerings (IPOs). For instance, those that invested in the Tesla IPO in 2010 received shares at a preferential price. The Tesla shares were listed on the NASDAQ exchange after the IPO and have since gone on to generate significant gains. 

This is much the same as how ICO works. For example, those investing in the Ethereum ICO in 2014 would have paid just $0.31 per token. Since then, Ethereum has hit highs of nearly $5,000. This translates into gains of over 1.5 million per cent. 

As we unravel in more detail later on, Ethereum isn’t the only ICO token that has generated huge returns for early investors. On the contrary, there are plenty of other success stories. 

Are ICO Tokens the Same as Other Cryptocurrencies?

There are many terms used in the cryptocurrency investment space, and some are used interchangeably. For example, ICO tokens refer to newly launched cryptocurrencies that are in their fundraising stage. As such, ICO tokens are also referred to as cryptocurrencies.

• Both ICO tokens and cryptocurrencies are backed by blockchain technology. 
• For example, XRP is backed by the Ripple blockchain.
• Some cryptocurrencies have their own native blockchain. 
• In this instance, the cryptocurrency is defined as a ‘coin’. 
• Bitcoin, Cardano, Litecoin, and many others have their own blockchain. 

In other cases, cryptocurrencies will build their ecosystem on a legacy network. For example, thousands of cryptocurrencies operate on the Ethereum blockchain, and these are known as ERC-20 tokens. Ethereum ICOs are some of the most popular around. 

With so many new projects launching throughout the year it’s no wonder that many of the top crypto traders are on constant lookout for the best BSC ICOs in 2024.  There are also thousands of cryptocurrencies listed on the Binance Smart Chain, and these are known as BSC tokens. 

In other words, if a cryptocurrency is built on a legacy blockchain, they are referred to as ‘tokens’ rather than ‘coins. This is the case with the vast majority of ICO cryptocurrencies. 

Why Invest in ICO Tokens?

Below, we discuss some of the reasons why seasoned investors are constantly searching for the best crypto ICOs. 

Discounted Entry Price

Crypto ICOs typically incentive investors with an attractive entry price. This means that the investor will buy the ICO token before it is listed on a crypto exchange. 

Once again this is similar to IPOs, as the shares will be sold at a discount before they hit a stock exchange.

Small Market Capitalization 

Crypto ICOs generally seek to raise a modest amount of capital. At least when compared to IPOs. After all, the top 100 cryptocurrencies by market capitalization currently range from $774 million to over $1.2 trillion. 

This means that ICO tokens can offer early investors a huge upside potential. While it can take time to see sizable gains, long-term investors often see the best investment results. 

That said, Shiba Inu, which was launched in mid-2020 – took just one year to become a billion-dollar cryptocurrency. This is also the case with other ICO tokens that were able to create hype and FOMO (Fear of Missing Out).

Invest in New Ideas and Concepts

The Ethereum ICO was hugely popular with investors, largely because of its ‘smart contract’ concept. This took blockchain and cryptocurrencies to the next level, with previous networks focusing exclusively on payments. 

This is the case with many ICOs, which offer solutions to real-world problems. Crucially, the best ICO tokens are those that bring a new idea or concept to the market. This gives the token the best chance possible of going mainstream and generating attractive returns for early investors. 

Easy to Diversify

Crypto ICOs are increasingly becoming popular with new blockchain startups. This means there are plenty of opportunities for investors seeking above-average returns.

However, ICOs are also risky, considering they are backed by new and unproven concepts. That said, investors can consider diversifying into lots of different ICO tokens to help reduce the risk. 

This means that instead of investing $1,000 into one ICO, the funds could be split across 10 different projects at $100 each. In doing so, only one of the ICO tokens purchased needs to go mainstream for the investor to witness sizable growth. 

What Are the Top Tokens to Buy Now?

New ICO tokens enter the market on almost a daily basis. This makes it challenging to assess the best crypto to buy. Below, we discuss some of the best emerging cryptocurrencies currently available at ICO prices.

1. Smog

Smog is a rapidly growing meme coin on the Solana blockchain, noted for its direct listing on the Jupiter decentralized exchange in February 2024. Initially launched with a market cap of $2 million, Smog has since soared to a valuation of over $360 million.

It has gained popularity through its substantial airdrop campaigns and high staking yields offering 42% APY, making it an attractive option for beginners in 2024. The total supply of $SMOG is 1.4 billion, with 490 million dedicated to airdrop rewards, ensuring continued investor engagement and potential for further growth.

Read the Smog whitepaper and join the Telegram group to stay updated with this meme coin. 

Visit Smog

 

2. Sponge V2 

Sponge V2 ($SPONGEV2) is the upgraded version of the successful Sponge token, which dramatically rose from a $1 million to nearly $100 million market cap in 2023.

The new version introduces a stake-to-bridge mechanism, allowing holders of the original Sponge tokens to lock them in the V2 smart contract in exchange for $SPONGEV2, simultaneously securing tokens and annual yields for four years with impressive APYs.

Sponge V2 is enhancing engagement by developing a play-to-earn racer game, rewarding top players with $SPONGEV2. With a total supply of 150 billion, over half are allocated to gaming and staking rewards, making it a compelling choice for beginners in 2024.

For more information, join the Telegram channel and read the Sponge V2 whitepaper.

Visit Sponge V2

 

3. eTukTuk

eTukTuk ($TUK) is a groundbreaking ICO promoting electric vehicle adoption for TukTuk drivers in developing nations, addressing the dual challenges of air pollution from internal combustion engines and rising fuel costs. $TUK tokens can be used to pay for EV charging, staked for high returns with APYs up to 126%, and for rewards at charging stations. 

The project plans to enhance driver revenues by 400% by building local charging stations, funded and operated by territory partners. Already raising over $3.1 million in presale at $0.0305 per token, $TUK offers a multi-functional investment opportunity at a potential discount.

Join the eTukTuk Telegram channel to stay updated with this cryptocurrency. For more information, read the eTukTuk whitepaper. 

Visit eTukTuk

 

4. Bitcoin Minetrix 

Bitcoin Minetrix ($BTCMTX) aims to revolutionize cloud mining as the first Web3 stake-to-mine project. The goal is to enhance safety and control by eliminating the need for costly fixed-term contracts typical of other cloud mining operations, which often carry risks of scams.

Investors can stake $BTCMTX to earn cloud mining credits, which are then burned to generate mining time, directly depositing mined BTC into their wallets. The entire process is managed via a dedicated app, providing autonomy to decide the staking duration and the flexibility to unstake and sell tokens anytime.

Additionally, staking $BTCMTX offers a high APY. With over $13 million raised in the presale and a token price of $0.0148, BTCMTX presents a secure and user-controlled mining opportunity.

For more info on the project, read through the BTCMTX whitepaper or join the Telegram group.

Visit Bitcoin Minetrix

 

5. 5th Scape

5th Scape ($5SCAPE) is pioneering the first virtual and augmented reality cryptocurrency ecosystem, offering token holders lifetime access to premium VR content. The 5th Scape universe will include hyper-realistic gaming, educational content, and blockbuster movies.

Users will be able to participate in MMA-fighting games, soccer and cricket simulators, and access free educational modules and popular films. Token holders also benefit from discounts on VR gaming headsets and chairs.

With 80% of its 5.21 billion token supply available in the ICO, aiming to raise $15 million, 5th Scape has already garnered nearly $1 million, making it a promising ICO for beginners in 2024.

Stay updated with the presale by reading the 5th Scape whitepaper and joining the Telegram channel. 

Visit 5th Scape

 

How to Find the Best ICO Tokens to Buy

Not all ICO tokens go on to become successful, so investors will need to conduct plenty of independent research. The most important factors to consider include the project’s concept, the utility of its token, and how realistic its roadmap objectives are. 

Let’s explore some of the most effective ways to find the best ICO tokens to buy:

Concept of the Project

A good starting point when exploring how to buy ICO tokens is to read the project’s whitepaper. This will reveal the concept of the project and what real-world problems it aims to solve. Ultimately, the most successful ICO tokens offer something innovative and new. 

Utility of the Token

While there are thousands of tokens in the market, many don’t have use cases. ICO tokens that fall into this category rarely witness long-term growth. Instead, it’s better to focus on utility tokens that have an actual use within the project’s ecosystem.

If an ICO token has utility, this increases the likelihood that people will buy it. In turn, increased buying pressure can lead to price appreciation of the token, benefiting early investors.  

Roadmap Targets

The best ICO projects offer a detailed and trackable roadmap. This is usually found in the project’s whitepaper. Investors should evaluate how realistic the roadmap targets are. Moreover, each target will have an anticipated completion date. 

This enables investors to assess whether or not the project is on course. When ICO projects meet their stated targets, this increases trust from the broader markets. But when targets are missed, this has the opposite effect. 

How to Buy ICO Tokens Safely & Avoid Scams

The unregulated nature of cryptocurrencies means that investors need to be cautious when learning how to buy ICO tokens. Put simply, just because an ICO claims to have developed an innovative solution to a real-world problem, this doesn’t mean that this will come to fruition. 

Many crypto startups fail to meet their targets, with investors never seeing the final product or service. This is why research is so important. 

Another risk associated with ICOs is a rugpull. This happens when the team behind the ICO suddenly disappears, taking investor funds with them. This leaves ICO investors with worthless tokens. 

So what steps can ICO investors take to remain safe? First and foremost, it is important that ICO investors only risk what they can afford to lose. There is no guarantee that the ICO will be successful, so investors can lose some or even all of their investment. 

Second, it is crucial to avoid putting all investment funds into one ICO. Instead, consider diversifying across many different ICOs from multiple niches.

It is also important to use a suitable crypto wallet when investing in ICOs. This will ensure that the ICO tokens purchased can be stored safely. Ultimately, ICOs are never risk-free, so investors should tread with caution. 

Conclusion

While ICOs can be risky, the investment returns can be significant. This is because ICOs enable investors to buy newly launched tokens at the lowest price possible. If the project is successful, this can yield sizable returns for early investors. 

Overall, Dogeverse stands out as the best ICO token to buy in April 2024 due to its unique multichain functionality, allowing seamless transactions across major blockchains like Ethereum and Solana.

With over $15 million raised in its highly successful ICO, investor confidence is high. Dogeverse’s engaging community-driven approach promises substantial growth potential and increased token demand once launched.

Visit Dogeverse

 

FAQs

How do I buy ICO tokens?

After finding a suitable project to invest in, connect a crypto wallet (e.g. MetaMask) to the ICO website and pay for the tokens with a supported crypto (e.g. Ethereum). 

What is a crypto ICO?

An ICO, initial coin offering, is a type of sale where a project makes tokens available at a certain price. This is done to raise development funds and build hype and interest in a project and can be a smart way to invest as tokens are often available below market rate.

What is the best crypto ICO?

We currently rate Dogeverse as the best crypto ICO. It stands out due to its successful presale, innovative multichain functionality, and strong community backing, making it a compelling choice in April 2024.